The criminal wealthy class thinks this may set a dangerous precedent.
Yet when the criminal wealthy class was bailed out by massive government payments to save the wealthy from their giant gambling losses, we heard no complaint from them about any setting of precedents.
Today in America, the Fed continues the massive transfer of cash into the hands of the criminal wealthy class, with its stealthily named QE (quantitative easing).
The Fed’s QE is the biggest boon to the wealthy ever witnessed by modern markets.
The Fed has been buying up, from the wealthy, every worthless note the wealthy had been stuck with.
The Fed has been buying everything, you name it. Worthless junk that nobody else would buy, the Fed has been buying it for top dollar, taking it off the hands of the wealthy.
The wealthy can barely contain themselves at their good fortune. Who would have thought they could get rid of those worthless pieces of paper? Yet, the Fed has now paid them roughly $1.5 trillion in cold, hard cash.
The wealthy, who had expected to lose everything, are now made richer than ever.
The Fed are very happy to accomodate them using the government’s money, and get invited to the country-club parties of the elite. And even President Obama, too, yearns for the invitations to the country-club parties of the elite, so he’s all in with the QE scheme too. No problem.
Once again in life, the wealthy criminal class wins, effortlessly. And the common man is ground into the floor under their heal.
QE is a far greater crime than TARP, and far more subtle for the average citizen to grasp.
The Cyprus bank levy is a tiny refreshing breath of fresh air in the opposite direction.
Now, of course, we hear loud protests from the criminal oligarchs about setting bad precedents.
It's true that at least the Cyprus heist is more transparent that QE.
Gotta say that for it.